Analysts Anticipate Black Hills Corp (NYSE:BKH) Will Announce Earnings of $0.36 Per Share

Wall Street analysts predict that Black Hills Corp (NYSE:BKH) will announce earnings of $0.36 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Black Hills’ earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.40. Black Hills reported earnings of $0.24 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to issue its next earnings report after the market closes on Monday, August 3rd.

According to Zacks, analysts expect that Black Hills will report full year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $3.55. For the next fiscal year, analysts anticipate that the business will report earnings of $3.80 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Black Hills.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.03). The company had revenue of $537.10 million during the quarter, compared to the consensus estimate of $633.11 million. Black Hills had a net margin of 11.27% and a return on equity of 8.41%. During the same quarter last year, the firm earned $1.73 EPS.

A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Black Hills from a “hold” rating to a “sell” rating in a report on Tuesday, June 23rd. Bank of America cut shares of Black Hills from a “buy” rating to a “neutral” rating and set a $71.00 target price on the stock. in a report on Wednesday, April 29th. Siebert Williams Shank upgraded shares of Black Hills from a “hold” rating to a “buy” rating and boosted their target price for the company from $64.00 to $75.00 in a report on Wednesday, May 6th. Credit Suisse Group upgraded shares of Black Hills from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a report on Tuesday, May 19th. Finally, Wells Fargo & Co dropped their price target on shares of Black Hills from $88.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Black Hills currently has an average rating of “Buy” and a consensus target price of $72.75.

In other news, Director Tony A. Jensen purchased 3,421 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $58.43 per share, for a total transaction of $199,889.03. Following the completion of the purchase, the director now owns 6,106 shares in the company, valued at approximately $356,773.58. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in BKH. Alliancebernstein L.P. boosted its stake in Black Hills by 9.1% during the first quarter. Alliancebernstein L.P. now owns 1,432,533 shares of the utilities provider’s stock worth $91,725,000 after buying an additional 120,058 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Black Hills by 10.4% during the 4th quarter. Macquarie Group Ltd. now owns 1,265,393 shares of the utilities provider’s stock worth $99,384,000 after acquiring an additional 119,600 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Black Hills by 38.5% during the 1st quarter. Franklin Resources Inc. now owns 1,154,949 shares of the utilities provider’s stock worth $73,951,000 after acquiring an additional 320,841 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Black Hills by 3.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,069,153 shares of the utilities provider’s stock valued at $68,458,000 after purchasing an additional 37,880 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Black Hills by 2.0% in the 4th quarter. Nuveen Asset Management LLC now owns 903,267 shares of the utilities provider’s stock valued at $70,943,000 after purchasing an additional 17,680 shares during the period. Hedge funds and other institutional investors own 85.71% of the company’s stock.

NYSE:BKH traded down $1.58 during trading hours on Friday, hitting $57.86. The company had a trading volume of 2,168,320 shares, compared to its average volume of 401,548. Black Hills has a 52 week low of $48.07 and a 52 week high of $87.12. The company has a market capitalization of $3.63 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.30. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.55. The stock has a 50-day moving average price of $58.07 and a 200 day moving average price of $66.58.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.14 annualized dividend and a dividend yield of 3.70%. Black Hills’s dividend payout ratio is currently 60.62%.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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Earnings History and Estimates for Black Hills (NYSE:BKH)

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